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Virginia

Carpenter's Shelter
Affordable HousingDevelopmentMultifamilySoutheastVirginia

AHDC, Carpenter’s Shelter Open Affordable Housing Project, Homeless Shelter in Alexandria, Virginia

by Julia Sanders

ALEXANDRIA, VA. — Alexandria Housing Development Corp. (AHDC) has partnered with local homeless shelter Carpenter’s Shelter for The Bloom at Braddock and Carpenter’s Shelter, a hybrid affordable housing community and homeless shelter in Alexandria. The project is a redevelopment of the former 17,000-square-foot Carpenter’s Shelter, which provides support and accommodations to people who are experiencing homelessness. The Bloom at Braddock has 97 low-income tax credit housing (LIHTC) units. Carpenter’s Shelter partnered with architectural firm Cooper Carry’s Alexandria office to complete the project. The redevelopment of Carpenter’s Shelter transformed the shelter, previously housed in a two-story building originally designed for the Department of Motor Vehicles, into a new, 163,000-square-foot building that supports both organizations’ missions under the same roof. The hybrid design features the build-to-suit homeless shelter and an apartment community that features a community room, multiple outdoor spaces and a 1,600-square-foot community produce garden. The two housing facilities share several amenities, including a level of underground parking and a playground. Carpenter’s Shelter has a new entrance to welcome residents seeking temporary housing for an average shelter stay of two to four months. A separate entrance to David’s Place at Carpenter’s Shelter provides access to shower facilities, laundry and lockers for …

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Sugarland Crossing
Leasing ActivityRetailSoutheastVirginia

Combined Properties Signs Leases With Three New Retailers at Sugarland Crossing in Sterling, Virginia

by Julia Sanders

STERLING, VA. — Combined Properties has signed three new tenants, including two anchor leases, at Sugarland Crossing shopping center in Sterling. The three tenants are JOANN Fabrics and Crafts, Lidl and Tropical Smoothie Café. Sugarland Crossing is located at the intersection of Route 7 and Community Plaza in Sterling, about 30 miles west of Washington, D.C. JOANN Fabrics and Crafts, a Hudson, Ohio-based fabric and crafts retailer, will open in a 35,000-square-foot space previously occupied by Home Vivant Furniture. Lidl, the Germany-based discount grocery chain, is signed on to replace the former Shoppers Food Warehouse as the grocery anchor in a 26,114-square-foot store this spring. Tropical Smoothie Café, a quick-service chain offering sandwiches, wraps, salads and flatbreads, is also scheduled to open in the spring. Sugarland Crossing is a 256,500-square-foot center in Loudoun County. Other tenants include Party City, Patient First, Club Pilates, FedEx Office, Firehouse Subs, Chipotle Mexican Grill, PHOrever, Chick-fil-A and Dunkin’. Combined Properties is a Washington, D.C.-based private real estate company specializing in retail, multifamily and mixed-use.

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Altaire-Apartments-Arlington
LoansMultifamilySoutheastTop StoriesVirginia

JLL Arranges $135M Refinancing for Altaire Apartments in Arlington, Virginia

by Taylor Williams

ARLINGTON, VA. — JLL has arranged a $135 million loan for the refinancing of Altaire Apartments, a 451-unit luxury high-rise community located in Arlington. The property is located on the border of the Crystal City and Pentagon City neighborhoods near major landmarks and institutions such as Arlington National Cemetary, the Pentagon and Ronald Reagan International Airport. Pentagon City is the neighborhood where Amazon is building its $2.5 billion second headquarters. Constructed in 2018, Altaire Apartments is a two-building development that features studio, one- and two-bedroom floor plans. Units are furnished with stainless steel appliances, kitchen islands, wood-style flooring, walk-in closets, individual washers and dryers and keyless entry mechanisms. Rents start at approximately $1,800 per month for a studio unit, according to Apartments.com.  Communal amenities include a sky lounge, rooftop terrace, fitness center, courtyard, fire pits, grilling area, pool, game room, penthouse lounge and pet washing area. The property is LEED Gold certified. Residents are offered concierge package handling services along with Luxer package lockers. Jamie Leachman and Paul Spellman of JLL arranged the five-year, floating-rate loan through an undisclosed lender on behalf of the borrower, LCOR, an investment and management firm with offices throughout the mid-Atlantic. Proceeds will be used to …

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Fredericksburg, VA. Outpatient Clinic
DevelopmentSoutheastVirginia

Partnership Purchases Land in Fredericksburg, Virginia to Develop 450,000 SF VA Outpatient Clinic

by Julia Sanders

FREDERICKSBURG, VA. — Carnegie Management and Development Corp. have purchased a 48.8-acre parcel in Fredericksburg from SH-Thompson LP and JDH LLC for $8.5 million. The development teams plans to construct one of the largest Veterans Affairs (VA) facility in the United States. The property is located at 5317 Jefferson Davis Highway in southern Spotsylvania County. The new 450,000-square-foot outpatient clinic will feature 2,600 parking spaces and create more than 550 jobs. The VA will fully occupy the four-story property. Construction will begin this year and is estimated to be finished in late 2023. Jamie Scully of Cushman & Wakefield | Thalhimer represented the buyers in the transaction. Adam Nelson and Virgil Nelson, also with Cushman & Wakefield | Thalhimer, represented the sellers.

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Southpoint Business Park Spec Industrial Building
DevelopmentIndustrialSoutheastVirginia

Hollingsworth to Develop 650,250 SF Spec Industrial Facility in Prince George County, Virginia

by Julia Sanders

PRINCE GEORGE, VA. — The Hollingsworth Cos. is developing a 650,250-square-foot speculative industrial building in Southpoint Business Park located at 8000-8072 Quality Drive in Prince George. This property will be the 12th and largest facility developed by The Hollingsworth Cos. in Southpoint Business Park. The speculative tilt-wall building will feature 40-foot clear heights, 60- by 60-foot column spacing, 142 dock doors and 177 trailer drops. After the new facility is built, Southpoint Business Park will have 1.6 million square feet of industrial space.

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Pepperwood Apartments
AcquisitionsMultifamilySoutheastVirginia

Blackfin, GMF Purchase Two Hampton Road Apartment Communities for $35.5M

by Julia Sanders

PORTSMOUTH, VA. — Blackfin Real Estate Investors and GMF Capital LLC have partnered to purchase Pepperwood Townhomes and Towne Point Landing Apartments in Portsmouth for $35.5 million. This transaction represented the joint venture’s fourth acquisition from the undisclosed seller and was done directly by Blackfin/GMF without intermediation. Built in 1981, Pepperwood Townhomes is located at 3790 Pepperwood Court. The 155-unit apartment community offers one-, two- and three- bedroom units. The community amenities include a fitness center, pool, playground, picnic area, grill, business center and clubhouse. The rent ranges from $990 to $1,579. The companies plan to upgrade the common areas, amenities, exteriors and complete unit renovations at both properties. Towne Point Landing Apartments is situated at 3802 Towne Point Road. The 193-unit complex offers one-, two- and three- bedroom apartment homes. Community amenities include a pool, playground, tennis court, volleyball court, patio, grill and public transportation. Both Pepperwood Townhomes and Towne Point Landing were 99 percent occupied at the time sale. This is the sixth transaction between Blackfin and GMF Capital and the companies’ second acquisition together in the region.

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DevelopmentOfficeRetailSoutheastVirginia

T-Mobile Opens 131,000 SF Customer Care Center at Former Sam’s Club in Richmond

by John Nelson

RICHMOND, VA. — T-Mobile U.S. Inc. has opened a 131,000-square-foot customer care center at White Oak Village, a mixed-use development in Richmond. Aston Capital converted a vacant, former Sam’s Club at White Oak Village into new Class A office space for T-Mobile. The Bellevue, Wash.-based mobile phone carrier is relocating approximately 500 employees from Richmond’s Short Pump area to the building with plans to eventually grow the staff to over 1,000. Charlotte-based Aston Capital acquired the White Oak Village building in February 2020 through an affiliate company, AC Richmond. The company then made renovations to the property, including a new exterior facade and renovated parking and landscaping. The firm also added employee amenities including exercise rooms, gaming room, onsite café and mother’s room. The $30 million project, which is adjacent to more than 900,000 square feet of retail, offices, restaurants and hotels at White Oak Village, was completed in October 2020. Since 2015, Aston Capital has repurposed over 500,000 square feet of former retail properties. Frampton Construction was the general contractor on the conversion and interior upfit, Timmons Group provided civil engineering services and McMillan Pazdan Smith Architecture and JPC Architects were the architects on the project.

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Affordable HousingDevelopmentMultifamilySoutheastVirginia

AHC Delivers $100M Affordable Housing Property in Arlington, Virginia

by John Nelson

ARLINGTON, VA. — AHC Inc. has delivered The Apex, a 256-unit affordable housing community in Arlington. AHC Management, a subsidiary of AHC Inc., is managing the $100 million development and is currently accepting applications. The Apex features a playground, sport court, community center, underground parking and fitness room. The community’s one-, two- and three-bedroom apartments are available for families earning 40 percent to 80 percent of the area median income (AMI). The Apex was designed to earn an EarthCraft Gold certification. To reduce environmental impact, the building offers energy-efficient appliances and features a green roof. The Apex has quick access to the biking and pedestrian trail that follows along the Four Mile Run Trail. The community also will offer a variety of social and educational programs for residents. The project’s financing includes up to $20.9 million in revolving loan funds from Arlington County’s Affordable Housing Investment Fund (AHIF). The redevelopment was awarded $2.5 million in 9 percent Low-Income Housing Tax Credits (LIHTC) and approximately $1 million in 4 percent LIHTC equity. Michael T. Foster Architects designed the apartment community, and Harkins Builders constructed the property. AHC Inc. is a regional developer of affordable housing communities based in Arlington, Va.

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DevelopmentHospitalitySoutheastTop StoriesVirginia

Marriott International Plans $250M Hotel in Reston Station Near Washington, D.C.

by Jeff Shaw

RESTON, Va. — Marriott International (NASDAQ: MAR) has unveiled plans for a $250 million luxury JW Marriott hotel in Reston, located between Washington, D.C. and Dulles International Airport. The building will rise 26 stories, featuring 250 guestrooms, 90 for-sale residential units, 15,000 square feet of meeting space, two restaurants, an executive lounge, swimming pool and fitness center. Marriott reached a franchise agreement with Comstock Holdings Cos. (NASDAQ: CHCI) to make the hotel the centerpiece for the next phase of Comstock’s Reston Station development. The hotel will anchor the Reston Row District, the newest section of the 60-acre, mixed-use, transit-oriented project. Reston Row District is located adjacent to Reston’s first Silver Line station, offering public transportation to D.C. via the Washington Metropolitan Area Transit Authority. When completed, Reston Row District will feature two office towers totaling approximately 500,000 square feet; a 350-unit multifamily building; 65,000 square feet of retail, service and fitness spaces; and a 2,500-space underground parking garage, all surrounding a 1.2-acre central park. The for-sale JW Marriott Residences Reston units will be served by a separate residential lobby entrance and located on the upper floors of the tower. This portion of the building will offer separate spaces and amenities …

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Wheelhouse-of-Fair-Oaks-Fairfax-Virginia
AcquisitionsMultifamilySoutheastTop StoriesVirginia

DSF Group Acquires Wheelhouse of Fair Oaks Apartments in Fairfax, Virginia, for $134M

by Taylor Williams

FAIRFAX, VA. — The DSF Group, an investment firm with offices in Boston and Washington, D.C., has acquired Wheelhouse of Fair Oaks, a 491-unit apartment community located about 20 miles outside of Washington, D.C. in Fairfax. The price of $134 million equates to roughly $273,000 per unit. The new ownership will rebrand the 13-acre community and operate it under its Halstead brand, which includes a number of Class A multifamily properties that are primarily located in New England. As part of the rebranding, DSF Group will implement a value-add program that will upgrade unit interiors. According to the property website, units are available in one-, two- and three-bedroom floor plans and feature individual washers and dryers, walk-in closets and private balconies. Amenities include a pool, fitness center, dog park, package locker service by Luxer One and an outdoor amenity lawn with bocce ball courts and fire pits. In addition, the property is within walking distance of numerous retail and restaurant options, including the Fair Oaks Promenade shopping mall. The seller was not disclosed. — Taylor Williams

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